Financial Services and Markets Act 2000

[F1 11 (1) At least once a year the FCA must make a report to the Treasury on— U.K.

(a) the discharge of its functions,

(b) the extent to which, in its opinion, its operational objectives have been advanced,

(c) the extent to which, in its opinion, it has acted compatibly with its strategic objective,

(d) how, in its opinion, it has complied with the duty in section 1B(4),

[F2 (da) how, in its opinion, it has complied with the duty in section 1B(4A),]

(e) its consideration of the matter mentioned in section 1B(5)(b),

(f) its consideration of the principles in section 3B,

(g) how it has complied with section 3D,

(h) any direction received under section 3I or 3J during the period to which the report relates,

[F3 (ha) any rules that it has made as a result of section 137C during the period to which the report relates and the kinds of regulated credit agreement (within the meaning of that section) to which the rules apply,]

F4 (hb) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F5 (hc) how it has satisfied the requirement in section 138EA(2) so far as regarding disclosure requirements in connection with matters relating to sustainability],

(i) how it has complied with section 354A(1) so far as relating to co-operation with persons outside the United Kingdom, F6 ...

[F7 (ia) how, in its opinion, it has complied with its duties under sections 9(2) and 10 of the Financial Guidance and Claims Act 2018, F8 ...]

[F9 (ib) how it has satisfied the requirement in section 416B to have regard to any SDR policy statement of the Treasury published and not withdrawn under section 416A (sustainability disclosure requirements: policy statement)],

[F10 (ib) any engagement with the statutory panels of the FCA, the PRA or the Payment Systems Regulator,

(ic) how it has complied with the statement of policy on panel appointments prepared under section 1RA in relation to the process for making appointments and the matters considered in determining who is appointed, and]

(j) such other matters as the Treasury may from time to time direct.

(2) Sub-paragraph (1) does not require the inclusion in the report of any information whose publication would in the opinion of the FCA be against the public interest.

(3) The report must be accompanied by—

(a) a statement of the remuneration of the appointed members of the governing body of the FCA during the period to which the report relates, and

(b) such other reports or information, prepared by such persons, as the Treasury may from time to time direct.

(4) The Treasury must lay before Parliament a copy of each report received by them under this paragraph.]

[F11 (5) In this paragraph “statutory panel” has the meaning given in section 1RB(5).]

Textual Amendments

F1 Schs. 1ZA, 1ZB substituted for Sch. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 3 (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.

F2 Sch. 1ZA para. 11(1)(da) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 28(10), 86(3); S.I. 2023/779, reg. 4(s)

F3 Sch. 1ZA para. 11(1)(ha) inserted (18.2.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 131(2), 148(2)

F4 Sch. 1ZA para. 11(1)(hb) omitted (1.1.2019) by virtue of Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 21(3)(a); S.I. 2018/1330, reg. 2(g)(vi)

F5 Sch. 1ZA para. 11(1)(hc) inserted (1.1.2024) by Financial Services and Markets Act 2023 (c. 29), ss. 21(3)(a), 86(3); S.I. 2023/1382, reg. 9(1)(a)

F6 Word in Sch. 1ZA para. 11(1)(i) omitted (1.10.2018) by virtue of Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 21(3)(b); S.I. 2018/1029, reg. 2(q) (with Sch. para. 2)

F7 Sch. 1ZA para. 11(1)(ia) inserted (1.10.2018) by Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 21(3)(b); S.I. 2018/1029, reg. 2(q) (with Sch. para. 2)

F8 Word in Sch. 1ZA para. 11(1) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), ss. 37(2)(a), 86(3); S.I. 2023/779, reg. 4(aa)

F9 Sch. 1ZA para. 11(1)(ib) inserted (1.1.2024) by Financial Services and Markets Act 2023 (c. 29), ss. 21(3)(b), 86(3); S.I. 2023/1382, reg. 9(1)(a)

F10 Sch. 1ZA para. 11(1)(ib)(ic) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 37(2)(b), 86(3); S.I. 2023/779, reg. 4(aa)

F11 Sch. 1ZA para. 11(5) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 37(3), 86(3); S.I. 2023/779, reg. 4(aa)